"Freedom is never more than one generation away from extinction. We didn't pass it to our children in the bloodstream. It must be fought for, protected, and handed on for them to do the same, or one day we will spend our sunset years telling our children and our children's children what it was once like in the United States where men were free." - President Ronald Reagan

Friday, July 08, 2016

The Obamacare mess #45 will inherit

We’ve posted before about the foreign policy and jobs challenges that the next president will face. Let’s add Obamacare to that growing list of problems President Obama did not address – or, as they say, swept under the rug.

Another Obamacare co-op, Connecticut’s HealthyCT, is closing its doors, and at least two most could follow suit as the nonprofit insurers decide whether they will be able to remain on firm financial footing.

The nine remaining co-ops of the original 23 co-ops must make payments totaling at least $130 million through Obamacare’s risk adjustment program, which could damage their viability.

The Connecticut Insurance Department announced Tuesday that HealthyCT was placed under state supervision, leaving approximately 40,000 Connecticut residents to find new health insurance during the next open enrollment period.

HealthyCT is the 14th co-op created under Obamacare to fail since the health care law’s exchanges opened in 2013.

And more dominoes will fall.

ObamaCare can no longer survive on its own, unless the next president and Congress are willing to make huge capital injections (i.e., taxes) or dismantle the program and start from square one.

President Obama irresponsibly allowed this to happen, and the media permitted him to do it. Where are the media reports about promises made and not kept? Where is the media asking questions about the incompetence of those who created and managed Obamacare?

President #45 won’t have the luxury of sweeping it under the rug. Instead, #45 will have to tackle the problem head on, and it won’t have a pretty ending for those who got subsidies to get policies.

Fair Use: This site/blog may contain copyrighted material the use of which has not been specifically authorized by the copyright owner. Such material is made available to advance understanding of political, human rights, economic, democracy, and social justice issues, etc. This constitutes a 'fair use' of such copyrighted material as provided for in section Title 17 U.S.C. Section 107 of the US Copyright Law. Per said section, the material on this site/blog is distributed without profit to readers to view for the expressed purpose of viewing the included information for research, educational, or satirical purposes. Any person/entity seeking to use copyrighted material on this site/blog for purposes that go beyond "fair use," must obtain permission from the copyright owner.